Titan Capital’s new fund will be deployed in existing portfolio companies of the firm in later stages
Titan Capital Winners Fund raised a target corpus of INR 200 Cr to exclusively invest in follow-on rounds of breakout startups from its seed portfolio, in August
Through the fund, around 20 companies will be backed with an average cheque size of INR 15 Cr
Seed stage-focused VC firm Titan Capital
has reportedly marked the final close of its new opportunities fund at INR 333 Cr (about $40 Mn).
This capital will be deployed in existing portfolio companies of the firm in later stages, ET reported.
It is to be noted that Titan Capital Winners Fund, backed by Kunal Bahl and Rohit Bansal, raised a target corpus of INR 200 Cr to exclusively invest in follow-on rounds of breakout startups from its seed portfolio, in August.
The Category-II alternative investment fund (AIF) is focussed on backing tech-enabled businesses led by “stellar founders and management teams building category creators”.
Inc42 has reached out to Titan Capital for comments on the development. The story will be updated based on the response.
Through the fund, around 20 companies will be backed with an average cheque size of INR 15 Cr, the report said.
The report also revealed that the investment firm has already invested in three startups from the fund – including Bengaluru-based Convin, eco-friendly D2C home needs brand Beco, and SaaS startup Simplismart.
Founded in 2015 by Snapdeal cofounders Bahl and Rohit Bansal, Titan Capital has backed prominent brands such as Mamaearth, Ola, Razorpay, Urban Company, Shadowfax, OfBusiness, Credgenics, Giva, Invideo.
The investment firm claims to have backed more than 250 startups based in India and the US across sectors including consumer internet, AI, SaaS, fintech and logistics.
This development comes on the heels of its recent launch of Indicorns, a new index to track leading Indian startups which achieved profitability and crossed INR 100 Cr revenue mark within 15 years of its inception.
As of FY23, the VC firm has acknowledged 186 Indian startups, including OfBusiness, Zerodha and Mamaearth among others as Indicorns. These Indicorns have generated a cumulative revenue of INR 1.06 Lakh Cr and a collective profits of INR 8.6K Cr.
